Are you really interested in knowing about wines and spirits? Do you care who is drinking what, where, and when?
Wine and Spirits: Economic Engine
If you do – then you must have been spending a few days at Vinexpo/Drinks America (Javits, NYC). If you missed this event, immediately put it on your to-do list for 2024.
I am not alone in applauding this impressive program. I was able to sip my way through wines/spirits presented by over 440 exhibitors, representing 32 countries and considered to be the largest business-to-business trade show in the universe, dedicated to wine/spirits professionals in North America. If you buy, sell, write, review, or drink – this should be added to a to-do list.
The global alcoholic/beverage market is estimated to be valued at $560.04 billion (2022). The growth rate of this market is projected to be 9.4 percent with an estimated value of $802.02 billion by 2026. As of 2022, revenue in the alcoholic beverage segment in the US reached $261.1 billion with a projected growth (from 2022-2025) of 10.51 percent per year.
This two-part series includes:
Part 1. Spirits Fuel the Economy
An alcohol trend in 2023 suggests consumers are pivoting to spirits over beer as they are looking for “adventures” available through new cocktails. Successful brands will balance something new and wonderful without going over the edge…consumers want both familiar and unique.
Part 2. Importance of Wine? Win/Win
A review of the wine industry and how the new demographics and psychographics of the consumer is pushing the sector to morph every aspect of the business, literally from the ground up and through to the consumer.
Spirits Fuel the Economy
Our Drinking Makes Executive Happy Campers
People are drinking – at home, in bars, at restaurants, at the beach, after skiing and swimming, after a test, before a date, during a date, and after a date…there appears always to be an occasion and an opportunity to pour a drink.
